The Marketing Mix - Product

The video tutorial explains the role of 'product' in the marketing mix, highlighting that it can be a physical item, service, or experience. It discusses the importance of developing a product that meets market needs, either by fulfilling existing demands or creating new ones, as exemplified by Uber. The tutorial also covers product attributes such as design, packaging, functionality, and experience, emphasizing their impact on consumer decisions. Finally, it stresses the importance of aligning the product with the target audience's needs.

What is the core element of the marketing mix?

• Price

• Promotion

• Product

• Place

Which of the following is an example of creating a new market need?

• Opening a new restaurant

• Launching a ride-sharing app like Uber

• Introducing a new car model

• Selling seasonal clothing

Why is design considered an important attribute of a product?

• It determines the product's price

• It influences consumer purchasing decisions

• It is the only factor in product success

• It affects the product's durability

Which attribute is crucial for fast-moving consumer goods like snacks?

• Functionality

• Experience

• Design

• Packaging

What does the term 'product' encompass beyond functional factors?

• The price and promotion strategies

• Just the design and packaging

• The overall customer experience

• Only the physical aspects